Over the past few days a high level meeting among the financial leaders of the BRIC nations - Brazil, Russia, India, and China has taken place in response to the global economic crisis.

These nations have a combined reserve of $2.8 trillion in US Treasuries and are worried that a falling US dollar could harm their investment.

Russian President Medvedev has proposed a new "supranational currency" to replace the global US dollar standard in response to this danger.

At this meeting though the BRIC leaders also proposed simply buying each others government bonds as a possible solution. None of them see an outright abandonment of the US or US bonds as a solution, but a gradual increase in the purchase of each others bonds seems likely.

Of course all of this would have an impact on gold and gold stocks and will impact US based investors and stock trading strategies.

We all have to be on top of what happens in the BRIC nations as the future engine of global economic growth is likely to come from such emerging markets.